UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C.
20549

SCHEDULE 13G

Under the Securities Exchange Act of 1934 (Amendment No.
3)*

TRAVELZOO INC. (Name of
Issuer)

Common Stock, par value $0.01 (Title of
Class of Securities)

89421Q205 (CUSIP Number)

December 31, 2017 (Date of Event Which
Requires Filing of this Statement)

Check the appropriate box to designate the rule pursuant to
which this Schedule is filed:

[ ]

Rule 13d-1(b)

[X]

Rule13d-1(c)

[ ]

Rule 13d-1(d)

*

The remainder of this cover page shall be filled out for
a reporting persons initial filing on this form with respect to the
subject class of securities, and for any subsequent amendment containing
information which would alter the disclosures provided in a prior cover
page.

The information required in the remainder of this cover page
shall not be deemed to be filed for the purpose of Section 18 of the
Securities Exchange Act of 1934 (Act) or otherwise subject to the liabilities
of that section of the Act but shall be subject to all other provisions of the
Act (however, see the Notes).

The principal executive office of the Issuer is located
at 590 Madison Avenue, 37th Floor, New York, NY
10022.

Item 2.

(a)

This statement (this Statement) is being filed by John
H. Lewis, the controlling member of Osmium Partners, LLC, a Delaware
limited liability company (Osmium Partners), which serves as the general
partner of Osmium Capital, LP, a Delaware limited partnership (the
Fund), Osmium Capital II, LP, a Delaware limited partnership (Fund
II), Osmium Spartan, LP, a Delaware limited partnership (Fund III), and
Osmium Diamond, LP, a Delaware limited partnership (Fund IV) (all of the
foregoing, collectively, the Filers). The Fund, Fund II, Fund III and
Fund IV are private investment vehicles formed for the purpose of
investing and trading in a wide variety of securities and financial
instruments. The Fund, Fund II, Fund III and Fund IV directly own the
common shares reported in this Statement (other than the 1,506 shares
owned directly by Mr. Lewis). Mr. Lewis and Osmium Partners may be deemed
to share with the Fund, Fund II, Fund III and Fund IV (and not with any
third party) voting and dispositive power with respect to such shares.
Each Filer disclaims beneficial ownership with respect to any shares other
than the shares owned directly by such Filer.

The Reporting Persons beneficial ownership has dropped
below the 5% Schedule 13G reporting threshold. Therefore, this amendment
No. 2 constitutes the final amendment to the Reporting Persons Schedule
13G and an exit filing for the Reporting Person and terminates the
Reporting Persons obligation to further amend the Schedule 13G.

For citizenship information see Item 4 of the cover sheet
of each Filer.

(d)

This Statement relates to the Common Stock of the
Issuer.

(e)

The CUSIP Number of the Common Stock of the Issuer is
89421Q205.

Item 3.

Not applicable.

Item 4.

Ownership

See Items 5-9 and 11 on the cover page for each Filer, and Item
2. The percentage ownership of each Filer is based on 12,461,553 shares of
Common Stock outstanding as of October 16, 2017, as reported on the Issuers
Quarterly Report on Form 10-Q for the quarterly period ended September 30, 2017
as filed with the SEC on November 2, 2017.

Page 8 of 10 pages

Item 5.

Ownership of Five Percent or Less of a
Class

Not applicable.

Item 6.

Ownership of More than Five Percent on
Behalf of Another Person.

Not applicable.

Item 7.

Identification and Classification of the
Subsidiary Which Acquired the Security Being Reported on By the Parent
Holding Company.

Not applicable.

Item 8.

Identification and Classification of Members
of the Group

Not applicable.

Item 9.

Notice of Dissolution of Group

Not applicable.

Item 10.

Certification

(a)

Not applicable.

(b)

By signing below I certify that, to the best of my
knowledge and belief, the securities referred to above were not acquired
and are not held for the purpose of or with the effect of changing or
influencing the control of the issuer of the securities and were not
acquired and are not held in connection with or as a participant in any
transaction having that purpose or effect.

Page 9 of 10 pages

SIGNATURE

After reasonable inquiry and to the best of my knowledge and
belief, the undersigned certify that the information set forth in this statement
is true, complete and correct.